Text of Central Asia Minerals (CAMLF) Merger and Acquisition Calls.

Operator

Good evening, and welcome to the Central Asia Metals plc investor presentation. (Operator Instructions) The Company may not be in a position to answer every question received during the same meeting. However, the Company can review all questions submitted today and post responses where appropriate.

Before we get started, I’d like to offer the following survey. I would now like to hand you over to the management team. Gavin, good evening sir.

Gavin Ferrar
CEO and Director

Good evening, welcome everyone, and thank you for joining us in this important announcement made by the Central Asia Minerals Company. I would like to draw your attention to the disclaimer in this presentation. There are 4 full pages of it, and that’s because we don’t want any of you to get in trouble. I do take the time to do a quick scan of those, please.

I won’t do that now. We’ll go straight to the presentation, which we are very pleased to announce that the Boards of Directors of CAML and Cygnus Metals have agreed to enter into a transaction whereby CAML will acquire the entire issued share capital of Cygnus Metals through a scheme of arrangement in Australia. The value to Cygnus shareholders will be A$232 million, and the share price paid is A$0.176.

This means that the initial ownership of the company from now on will be 70% from CAML and 30% from Cygnus. Cygnus Metals owns the prospective, high-grade Chibougamau project in Quebec. The transaction will be subject to a shareholder vote by Cygnus shareholders who need to achieve 75% of the votes in favour